It is clear that as time goes by, society changes and with time their wants and needs also change. This post will explore what are some relevant global market trends for property management in 2018. The next twelve months will show a few changes in the field and the most relevant ones are as it follows.
According to R. Braun (2018), property management firms should be investing in more technology. Embracing the era of digitalisation and automation will mean that much more will be done faster and things will be done better. The rate of change in the technology department has increased significantly when it comes to advertising, communication and other relevant fields. To avoid being left a step behind, companies should focus on leveraging the technologies available to make sure a wider audience is reached. According to A. Lee (2017), desktops are becoming obsolete and people will solemnly communicate through a smart phone. According to A. Bell (2017), property managers should be switching from websites to Apps. Property management companies will be more eco-friendly. Here at Metro NZ Property Management, we aim to be a paperless office & environment friendly and we urge to our clients to be as environmentally friendly as possible also. We are all about the green power.
Still according to R. Braun (2018), millennials now dominate the potential property buyers and tenants. Property management firms will be aiming to work closely with millennials to explore their talent pool and retain such talent to keep attracting a similar target audience since the same will be able to relate with each other better. According to A. Bell (2017), millennials will be renting more properties in 2018 rather than 2017. We recognise and cherish our millennial clients. At Metro NZ Property Management we help clients regardless of their current situation, be it renting, sharing, subletting to purchase their own investment property. This allows them to have a passive income and they can live at a top end area where they can’t afford to buy because we have our client’s best interest at heart.
Apartment rental trend
Condo apartment rentals is most likely to keep growing steadily. According to R. Braun (2018), young workers and students are looking for apartment close to the city centre which allows the to have everything they desire within distance such as clubs, pubs, markets etc. According to A. Lee (2017) this all relates to individualisation. According to M. Norton (2017), New Zealanders will be demanding for smaller properties.
Increase in housing prices
According to H. Lewis (2018), properties throughout 2018 will keep increasing in price, but not on an overly fast rate and therefore, mortgages will most likely increase. More houses will also be built, yet again, at a slower rate. According to D. Hargreaves (2018), Auckland is short on over fifty thousand homes and almost nine thousand construction workers, therefore house construction pace will be limited.
These global trends affect all of us in Auckland, New Zealand. Here at Metro NZ Property Management our property managers are well aware of the new trends and expected changes in the whole property management field. We are constantly working hard to make sure our client’s needs and expectations are met. We are always working on values of honesty and integrity. If you have any queries about how these new property management trends affect your property, don’t hesitate to contact us. We will be glad to answer your queries.
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